Connors Investor Services Inc. Reduces Stock Position in International Money Express, Inc. (NASDAQ:IMXI)

Connors Investor Services Inc. cut its holdings in International Money Express, Inc. (NASDAQ:IMXI) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 128,832 shares of the company’s stock after selling 4,378 shares during the period. Connors Investor Services Inc. owned 0.39% of International Money Express worth $2,685,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of IMXI. CWM LLC boosted its holdings in shares of International Money Express by 201.7% in the second quarter. CWM LLC now owns 3,394 shares of the company’s stock worth $71,000 after acquiring an additional 2,269 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in International Money Express during the 2nd quarter valued at about $91,000. Meeder Asset Management Inc. grew its holdings in International Money Express by 1,277.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock valued at $126,000 after buying an additional 5,621 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of International Money Express by 41.5% during the first quarter. Lazard Asset Management LLC now owns 6,319 shares of the company’s stock valued at $143,000 after buying an additional 1,853 shares during the period. Finally, Summit Global Investments purchased a new stake in shares of International Money Express in the second quarter worth about $247,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Needham & Company LLC reduced their price objective on shares of International Money Express from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Northland Securities reduced their price target on shares of International Money Express from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, BTIG Research reissued a “neutral” rating on shares of International Money Express in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.17.

International Money Express Price Performance

Shares of NASDAQ:IMXI opened at $18.72 on Tuesday. The company’s fifty day moving average price is $18.99 and its 200-day moving average price is $20.32. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $611.02 million, a price-to-earnings ratio of 11.21 and a beta of 0.82. International Money Express, Inc. has a one year low of $15.76 and a one year high of $23.28.

International Money Express (NASDAQ:IMXI) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). International Money Express had a net margin of 8.78% and a return on equity of 43.97%. The firm had revenue of $171.53 million for the quarter, compared to analysts’ expectations of $174.89 million. During the same quarter in the previous year, the business earned $0.46 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts anticipate that International Money Express, Inc. will post 1.98 earnings per share for the current fiscal year.

International Money Express Profile

International Money Express, Inc, together with its subsidiaries, operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards.